Soybeans were sharply higher on commercial and technical buying, capping off a bullish week. There was also spillover from bean meal, which was up sharply due to strong cash basis levels. Weekly export sales on meal were up solidly on the week and there’s talk Argentina’s soybean meal supplies are very tight. Unknown destinations bought 256,930 tons of 2021/22 U.S. beans Friday morning, while the weekly numbers were neutral. China was the biggest buyer, picking up around three quarters of the weekly total.

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